Cyprus Semi swings to a gain

SteveGelsi

NEW YORK (MarketWatch) -- Cypress Semiconductor Corp.
CY, -0.22%
on Thursday said first-quarter net income totaled $7.1 million, or 5 cents a share, compared to a year-ago loss of $68.8 million, or 53 cents a share. Revenue increased to $249 million from $200 million. Adjusted net income was 7 cents a share. A survey of analysts by Thomson First Call forecast earnings of 5 cents a share and revenue of $240 million. Barring a softening of semiconductor industry fundamentals in the second half of 2006, this year should be its first $1 billion year since 2000, the company said. Its SunPower
SPWR, +3.82%
solar chip unit reported $300,000, or breakeven net income on a 42% increase in revenue to $42 million. The unit held its IPO in November.

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